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Friday, June 29, 2012
Uncle Buck loses the neckline
USD is losing its IHS neckline today (here's USD fund UUP). So tell me, does this mean that copper is going to hold its neckline after all and oil is bottoming? What about the whole broad asset sphere that we have expected to continue to rise? You mean all this policy maker b/s was just messing with the charts? Is that it? If this stays beneath the neckline, silver out performs gold and junk and emerging market bonds remain in 'risk on' mode, dat would appear to be da case.